Afaf Hashim, Country Manager, Property Finder Qatar
Doha: The latest Qatar Real Estate Market Report from Property Finder Qatar points to positive trends for 2022 with sales and rental demand rising as the nation heads towards the hosting of the FIFA World Cup and increased regulation delivers greater sector transparency.
The report points to a year-on-year Q3 2021 rise in the real estate price index of 3 percent. “While it may seem that stock is limited in certain high traffic areas at the moment due to heightened demand, in the coming months, a higher number of units will be ready for handover, which will create more supply,” says the report.
The report also identified rising country-wide sale and rental transactions by October last year. Sales continued an upward trajectory which began in 2020 and which is being driven by increasingly confident investors and first-time buyers who are taking advantage of lower prices and foreign ownership opportunities. “It is worth noting that the Ministry of Justice Real Estate Department’s work on regulating the market has played a role in paving the way to a more stable pricing index, as well as increasing transparency in the local real estate market,” says the report.
“At Property Finder, we are here to empower the end users house hunting journey, and find solutions to the pain points that still exist when navigating the real estate market. And together, we can do that,” said Afaf Hashim (pictured), Country Manager, Property Finder Qatar.
Healthy inventory stocks were identified from rental listings which rose on the platform by 37% in Doha, 45% in Lusail, and 36% in Al Wakra in H2, 2021 compared to the same period in 2020. Sales listing also rose over the same period with Doha recording a near 40% increase with listings in Lusail jumping just over 50%. Sales prices in Al Wakra rose 12% on the same period, those in Doha jumped by 19.7% while prices per square metre in Lusail nudged up by almost 2%. Rental prices in Doha and Al Wakrah both rose over the same comparative period by 3.6% and 4.4% respectively.
The addition of newer compounds and standalone villas across the sector drove up median advertised prices in some high traffic locations, such as Ain Khaled and Al Waab in H2 last year compared to the same period in 2020.
